Fonterra cuts forecast payout to $4.50/kgMS on volatile dairy prices, over-supply

Wed, 29 Apr 2015

By Paul McBeth April 30 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, has cut its forecast payout to farmers by 20 cents, blaming volatile global commodity prices and an over-supply in international markets. The Auckland-based companies has reduced its forecast farmgate milk price to $4.50 per kilogram of milk solids from $4.70/kgMS, and retained its estimated dividend range of between 20 and 30 cents, it said in a statement. Fonterra also expects New Zealand milk production to rise to 1.607 million/kgMS...

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